Wanhua Restarts Fujian Plant After Maintenance TDI Prices Soar as Exports Surge 83 Percent

On July 29, Wanhua Chemical announced the successful restart of its Fujian complex following a scheduled shutdown. The facility, with annual capacities of 800,000 tons MDI, 360,000 tons TDI, and 400,000 tons PVC, had been offline for maintenance since June 5 and has now resumed normal operations.

Meanwhile, Wanhua’s Hungarian subsidiary, BorsodChem, began a 30-day maintenance on its 400,000-ton MDI and 250,000-ton TDI lines on July 23. The global TDI market remains tight after Covestro’s 300,000-ton TDI unit in Dormagen, Germany, suffered an electrical fire, triggering force majeure and a sharp price rally.

TDI spot prices have surged: Covestro Shanghai raised August opening prices to ¥18,500/ton (drum), with monthly prices at ¥19,100/ton and restricted supply. BASF Shanghai and Cangzhou Dahua both increased July TDI prices by ¥4,000/ton to ¥20,000/ton amid tightening inventories.

On July 22, Wanhua also lifted its Southeast Asia TDI offer by $500/ton, citing acute shortages and high global demand. Customs data shows China’s TDI exports hit 48,100 tons in June, with H1 exports up a staggering 82.95% year-on-year at 267,300 tons.

Mitsui Chemicals’ TDI unit (50,000 tons/year) was halted July 27 due to a chlorine leak, but inventories remain sufficient for now. The market is closely watching supply dynamics as manufacturers scramble to balance soaring demand and unforeseen outages.